The concept of organizational stigma has received significant attention in recent years. The theoretical literature suggests that for a stigma to emerge over a category of organizations, a “critical mass” of actors sharing the same beliefs should be reached. Scholars have yet to empirically examine the techniques used to diffuse this negative judgment. This study is aimed at bridging this gap by investigating Goffman’s notion of “stigma-theory”: how do stigmatizing actors rationalize and emotionalize their beliefs to convince their audience? We (...) answer this question by studying the stigma over the finance industry since 2007. After the subprime crisis, a succession of events put the industry under greater scrutiny, and the behaviors and values observed within this field began to be publicly questioned. As an empirical strategy, we collected opinion articles and editorials that specifically targeted the finance industry. Building on rhetorical analysis and other mixed methods of media content analysis, we explain how the stigmatizing rhetoric targets the origins of deviant organizational behaviors in the finance industry, that is, the shareholder value maximization logic. We bridge the gap between rhetorical strategies applied to discredit organizations and ones used to delegitimize institutional logics by drawing a parallel between these two literatures. Taking an abductive approach, we argue that institutional contradiction between field and societal-level logics is sufficient, but not necessary to generate organizational stigma. (shrink)

According to the classical finance theory it is assumed that investors show rational behaviour in order to achieve maximum gain.but this approach has changed since 1980s. There are a lot of academic studies emphasizing the determining effect of human psychology in financial decisions. Behavioral finance considers the interaction between emotions and investors decisions. According to the New financial approach investors show irrational behaviours and take prejudices into the account for investment decisions as opposed to traditional perspective. (...) class='Hi'>Behavioral finance analyzes the market anomalies which conventional financial theories are inadequate to explain based on an assumption that individuals are not rational. While doing this, it benefits from the other sciences such as psychology, sociology, and antropology, etc. One type of behavioral finance is herd behavior. In this paper, domestic and foreign literature research on herd behavior in financial markets were analyzed. (shrink)

Since the concept of “nudge” was introduced in 2008 by Thaler and Sunstein, proposing that small interventions based on changes in choice architectures can alter people’s behavior and make it easier for them to achieve their desired goals, the application in public policy of behavioral economics has gained significant attention. This has led to the emergence of different types of policies based on behavioral insights, which have been used in a variety of areas, including health or finance, (...) with the goal of promoting well-being and addressing social and economic issues. After providing a basic theoretical background as a frame of reference to understand gender violence, this study explores the use of tools from the field of behavioral economics as it is applied in public policy. Regulatory (paternalistic) and non-regulatory (libertarian) interventions based on behavioral insights will be considered: nudges, boosts, shoves, budges, or sludge audits, are examined as potential interventions to use in matters related to this type of violence. After evaluating these behavioral policy instruments and their potential effectiveness, the limitations of the behavioral perspective are recognized, and the need for a multifaceted approach to combating gender violence is acknowledged. The article concludes by arguing that public policies addressing gender violence should not only utilize behavioral tools but should also incorporate strategies related to education, legislation, and social norms. (shrink)

This study investigated the impact of investor psychological bias on a firm’s market value. In detail, we examined the effect of investor overconfidence (optimism) and loss aversion (pessimism) on firm market value. We also aimed to investigate the moderating effect of corporate governance on the relationship between investor behavior biases and firm market value. This study used a sample of 143 firms listed on the Saudi Stock Exchange over the period from 2012 to 2021. The results suggest that investor overconfidence (...) affects a firm’s value positively. On the other hand, loss aversion is negatively associated with the firm’s market value. Furthermore, we find that corporate governance (measured by board size and board independence) enhances the positive association between overconfidence and firm market value. In contrast, we find that corporate governance seems to marginally mitigate the negative effect of loss aversion. (shrink)

An obituary of Philippe Mongin (1950-2020).

This study thoroughly investigates the financial behaviors of financially independent, young, single professionals aged 24 to 35 in Balayan, Batangas, amidst a period of global inflation. Focusing on five industries—education, finance, government, healthcare, and retail—the research employs a mixed-methods approach. Quantitative analysis, involving 75 respondents through a 4-point Likert scale survey, is complemented by qualitative insights from in-depth interviews with 5 participants from each industry. The findings from numerical values revealed that demographics did not impact working professionals' saving habits (...) and buying behaviors during the global inflation surge. This suggests that despite differences in age, gender, industry, employment status, and monthly income or salary, all professionals prioritized robust, strong savings and reduced spending to ensure financial stability. The research underscores the significance for professionals in various industries to prioritize specific aspects of personal financial management during the prevailing global inflation surge. The study suggests that, irrespective of industry, working professionals should prioritize specific aspects of personal financial management during the global inflation surge. (shrink)

The "second-generation indigenization" hypothesis of Huntington's phenomenological observations on totalitarianism in Cold War regime collapse subtly portrayed the realpolitik interest groups' political influences with autocracy disbandment processes. The research puts democratization as the premise and globalization as purpose for the analysis, with the cultural anthropological psychopathology & criminological elements of genocide and crime against humanity explained, underlying some of the Communist Party of China (CPC)’s organizational behaviors. With the regionalism purposes & approaches to multilateralism by People's Republic of China (PRC), (...) the end of democratization is leveraged against the procedural means with power politics of declared “decmocracy”. Between quantitative autocratic controls and realpolitik local-regional interest groups, the connotation of democratization in liberal international globalization has either been used for militant purposes or pushed the landscape of regime collapse into realpolitik local groups and autocratic controls in the process of globalization, with a case study on a local branch of Argricultural Bank of China on supply-side hijacking by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). With the industrial interests omposed on realpolitik local groups, autocratic regionalism becomes of the "best interest scenario" for the realpolitik local groups with psychopathological spread of the criminological behaviors, by the cyber organizational criminal operations correlated with PRC’s approaches to international relations and multilateralism through bilateral trade & finance in monetary and currency domains, developed into the digitization of economies with criminological schemes in telecommunication, information, and informatics systems. However, the diminishing autonomy & freedom of the territorial population in turn derogated the real economy that wielded the prisoners' dilemma between autocracy and totalitarianism in a negative sum game deterioration cycle, with the censorship practices by the illicit regimes for propaganda controls sustaining "ideology security". In the democratization process of the dictatorial regime, "second-generation indigenization" is thus mapped to the sectarian interests respondent to dictatorial propaganda generation, other than a natural phenomenon out of autonomy and freedom premises in decision theory. The article recaps the coup d'état between Xi Jinping and Bo Xilai before Xi took the autocratic power, and analyzes the human rights situation in the obstacle of democratization and by the coercion mechanism imposed on the mainland China civil society for the militant purposes, with its behaviral spread of censorship to the “internet platforms” in liberal democratic countries by financial interest incentives and avoidance from war threats, whereby military backends in the cyber systems already indicate otherwise. (shrink)

In this paper, we provide a detailed review of previous classifications of 2 × 2 games and suggest a mathematically simple way to classify the symmetric 2 × 2 games based on a decomposition of the payoff matrix into a cooperative and a zero-sum part. We argue that differences in the interaction between the parts is what makes games interesting in different ways. Our claim is supported by evolutionary computer experiments and findings in previous literature. In addition, we provide a (...) method for using a stereographic projection to create a compact 2-d representation of the game space. (shrink)

Nowadays, it is thought that there are only two approaches to political economy: public finance and public choice; however, this research aims to introduce a new insight by investigating scholastic sources. We study the relevant classic books from the thirteenth to the seventeenth centuries and reevaluate the scholastic literature based on public finance and public choice doctrines. The findings confirm that the government is the institution for realizing the common good according to a scholastic attitude. Therefore, scholastic thinkers (...) saw a typical government mission based on their essentialist attitude toward human happiness. Social conflicts and lack of social consent are the product of diversification in ends and desires; hence, if the ends of humans were unified, there would be no conflict of interest. Accordingly, if the government acts according to its assigned mission, the lack of public consent is not significant. Based on the scholastic point of view, this study introduces the third approach to political economy, which can be considered an analytical synthesis of classical doctrines. -/- . (shrink)

Entrepreneurship plays an indispensable role in the economic development and poverty reduction of emerging economies like Vietnam. The rapid development of technologies during the Fourth Industrial Revolution (Industry 4.0) has a significant impact on business in every field, especially in the innovation-focused area of entrepreneurship. However, the topic of entrepreneurial activities with technology applications in Vietnam is under-researched. In addition, the body of literature regarding entrepreneurial finance tends to focus on advanced economies, while mostly neglecting the contextual differences in (...) developing nations. Therefore, this research contributes to these topics by investigating the main characteristics of a high potential market for entrepreneurs in Vietnam, which is the English language training market (ELTM). It also aims at indicating the impacts of technology on the entrepreneurial firms within this market, with an emphasis on financing sources. To answer the research questions, this study employs a qualitative analysis and conducts 12 in-depth, semi-structured interviews with entrepreneurs and researchers in the field. The key findings in our study highlight the main contributing factors to the growth of the market, both universally and context-specific for a developing nation like Vietnam. It also lists the leaders in each market segment and the industry’s potential profit margin. The results also show that most entrepreneurs in the ELTM utilized private sources of finance rather than external ones, such as bank loans. It again confirms the idea from previous works that even with the rapid development of the economic and technological landscape, entrepreneurial activities in general barely benefit from additional sources of funding. However, it also points out the distinct characteristics of the ELTM that may influence these financing issues; for example, English training services usually collect revenues from customers before delivering their classes. This is of advantage for entrepreneurs in this area and helps significantly reduce the financial barriers. These findings, which are among the first attempts to contribute to a better understanding of entrepreneurial opportunities in the Industry 4.0 in Vietnam, provide valuable insights for policymakers and entrepreneurs, as well as investors. (shrink)

Drawing on behavioral economics, nudges (policy interventions based on choice architecture) have the capacity to strategically shape policymaking, subtly guiding individual behavior by adjusting their decision environment. Applied to enhance vaccinations, boost retirement savings, or promote healthy habits, these interventions align with consensus-defined well-being. As governments adopt nudges, scholars have explored their role in fostering virtues. This paper argues that nudges have the potential to efficiently contribute to virtuous development by instilling and sustaining habits, respecting individual choice, and ensuring (...) deliberation. It introduces the concept of virtue nudges, emphasizing the alignment of habits with virtues for targeted behavioral change and the formation of morally virtuous habits. (shrink)

Editorial Office MDPI St. Alban-Anlage 66 4052 Basel, Switzerland This is a reprint of articles from the Special Issue published online in the open access journal Journal of Risk and Financial Management (ISSN 1911-8074: SI Entrepreneurial Finance).

Is behavioral integration (i.e., which occurs when a subjects assertion that p matches her non-verbal behavior) a necessary feature of belief in folk psychology? Our data from nearly 6,000 people across twenty-six samples, spanning twenty-two countries suggests that it is not. Given the surprising cross-cultural robustness of our findings, we suggest that the types of evidence for the ascription of a belief are, at least in some circumstances, lexicographically ordered: assertions are first taken into account, and when an agent (...) sincerely asserts that p, non-linguistic behavioral evidence is disregarded. In light of this, we take ourselves to have discovered a universal principle governing the ascription of beliefs in folk psychology. (shrink)

Drawing a sample of 135 successful African immigrant-owned businesses, this paper sets out to investigate how their owners acquired the necessary capital for start-up and growth thereafter. The paper was designed within the quantitative and qualitative research paradigms, in which a triangulation of three methods was utilised to collect and analyze the data. The paper revealed that although African immigrants are characteristically at a disadvantage when it comes to accessing capital from formal financial institutions, this does not stop them from (...) pursuing entrepreneurial activities. At the start-up stage, they typically resort to personal savings, business credit, family credit, and loans from informal financial institutions. According to the ability to raise capital, we found that a varying range of start-up capital was utilised, which tended to vary across the different ethnic groups studied. Once started, we found that the sources of additional finance available to these immigrants did not change significantly. They conventionally turned to friends, co-ethnics and self-help financial associations to ‘feed’ their need for further funding. (shrink)

Humans were once purely animal, the same as all the other animal species, implying that the practice of ethics must have been nonexistent until quite recently in human history. It has been during the species’ turn towards behavioral modernity that ethical precepts and systems have been formed, eventually becoming an integral part of modern human existence. This essay will explore the cause for this transition, emphasizing the idea that there are now two different sources of modern human behavior. On (...) the one hand, modern humans are still animal, and they must still engage in biologically driven behaviors. At the same time, modern humans have become increasingly influenced and guided by the many artificial constructions that have been accruing over time and are now saturating the human landscape, with the response to these artificial constructions producing a wide range of behaviors heretofore unwitnessed on the planet Earth. These two aspects of modern humanity—the animal aspect and the constructed aspect—they find themselves often in conflict, each striving to gain ascendency over each individual and over the species as a whole. It is to negotiate this inherent conflict that ethics and morality are formed. (shrink)

The study aimed to measure the effect of Crowdfunding financing on entrepreneurship aspirations in Arabic region. Population consists of members in (15) Crowdfunding Arabic platforms which are working with all models and online at (2018). Descriptive approach and a questionnaire used as a tool for this research. The results showed that Crowdfunding financing effect positively on entrepreneurship aspirations, Crowdfunding used mostly to finance small business or microfinance and charity. Add to that, Crowdfunding leads to financial efficiency and costs reduction, (...) more flexible payments methods and more opportunities for entrepreneurs. The study recommended the importance of entrepreneurship culture and its role in promoting entrepreneurs, the effect off Fintech and various e-banking and e-payments methods, and the need of more interest in innovation and creativity. (shrink)

This study assessed external debts and the financing of education in Nigeria using time series data obtained from World Bank, and CBN Statistical Bulletin covering a period of 31 years from 1988 -2018. The model of the study was derived, while the data collected were analysed using the Ordinary Least Squares. Diagnostic tests such as Augmented Dickey- Fuller (ADF) unit root test, Johansen co-integration, Vector Error Correction (VEC) techniques of estimation, and Granger Causality tests were all performed. Findings revealed a (...) significant long-run relationship between external debts and the financing of education; external debts have a significant effect (F=39.07055, p<.05) on the financing of education in Nigeria; external debt stock and external debt service payment have no significant effect on the financing of education; real GDP and Exchange rate have a significant effect on the financing of education in Nigeria respectively. Based on these findings, it was concluded that external debt is a big hindrance to the financing of education and consequently, the economic growth of Nigeria. It was recommended amongst others that the government should use borrowed funds from external sources for productive capital projects or development initiatives such as investment in education and the eradication of illiteracy. (shrink)

This paper studies the issue of financing the Space Industry at the State Level in the Postwar period as part of the country’s recovery plan, as one of the foremost critical zones of technological development and to ensure space security and defence. The European Space Agency (ESA) is, identified as the main player in the European space sector. It is determined that the current structure of ESA – Space 4.0 – provides for the success of European space activities in close (...) coordination with the needs of European societies and economies. Despite all the prospects, offered by the Space Industry, a number of barriers can hinder full participation in the space economy. These ‘barriers’ include the requirement of large capital investments, technological risk and longer de-velopment times. Public-private partnerships have been, identified, as an effective way to overcome these barriers, so the government should play an important role in pro-moting innovation through the space sector. The war in Ukraine, which began on Feb-ruary 24, 2022, once again, reminds us of the unique value, and critical use of outer space for security and defence purposes. From intelligence gathering and monitoring to the availability of communications. It is determined that the war already has serious consequences for the European space sector. The Space Industry of Ukraine is a critical component of the national economy of Ukraine because it is the motor of numerous imaginative changes in other segments of the economy and contributes to the improve-ment of social, political, financial and natural circles of society. In Ukraine, there's an incessant disappointment in the State to fulfil its commitments to the ventures in the Space Industry. In the conditions of full-scale, ‘war’ the Space Industry isa key element of national security and defence of Ukraine. The financing of the Space Industry at the State level in the post-war period is crucial as part of the country’s recovery plan. (shrink)

This paper endeavors to understand the research landscape of finance research in Vietnam during the period 2008 to 2020 and predict the key defining future research directions. Using the comprehensive database of Vietnam’s international publications in social sciences and humanities, we extract a dataset of 314 papers on finance topics in Vietnam from 2008 to 2020. Then, we apply a systematic approach to analyze four important themes: Structural issues, Banking system, Firm issues, and Financial psychology and behavior. Overall, (...) there have been three noticeable trends within finance research in Vietnam: (1) assessment of financial policies or financial regulation, (2) deciphering the correlates of firms’ financial performances, and (3) opportunities and challenges in adopting innovations and ideas from foreign financial market systems. Our analysis identifies several fertile areas for future research, including financial market analysis in the post-COVID-19 eras, fintech, and green finance. (shrink)

In Mexico, the management of public resources has been questioned by the State, and mainly the results that the public administration at its three levels (federal, state and municipal), by the lack of transparency in the application and verification of public resources. The experience that gives us the operation of different emerging programs that focused on reducing social and economic inequality in the country, we can locate them as the first attempts in the search for a solution that is complex. (...) Moving from the role of the benefactor and welfare state to the promoter of the regions and in the recognition of the focalization of priority attention areas, the path that has been taken is not only the beginning. Recognizing the public nature of public finances as a promoter of social development, we must understand it as the one assumed by the State through social, political and economic co-responsibility to solve poverty and marginalization of its own public policy orientation and vision of solution has been made since the eighties. From the above, we can point out some preliminary conclusions including the study of the indigenous language-speaking population with a high level of social exclusion in the methodology for the definition of multidimensional poverty in Mexico, will allow the allocation of public resources in the fight against poverty to be effective since it will make it possible to identify to the target population that is subject to social exclusion and marginalization. This invites us to a final reflection: What to do to address the just social demands of the indigenous population that is immersed in poverty, marginalization and exclusion? What to do so that they do not leave their communities, and if they have already done so, how to attend to the needs of family groups that are due to the expense of a remittance that may never arrive? (shrink)

Public parks play important roles in conserving biodiversity, promoting environmental sustainability, fostering community engagement, and enhancing the overall well-being of residents in urban areas. Nevertheless, finance is needed to maintain and expand the greenspaces in the parks. The current study aims to examine how perceptions of biodiversity loss consequences and park visitation frequency influence the residents’ willingness to contribute financially to tree-planting projects in public parks. Employing the Bayesian Mindsponge Framework analytics on a dataset of 535 Vietnamese urban residents, (...) we discovered that perceived health loss and knowledge erosion as consequences of biodiversity loss and park visitation frequency are directly positively associated with financial donation willingness. Meanwhile, the perceived economic growth loss was found to be indirectly positively associated with donation willingness through park visitation frequency, whereas the perceived loss of nature-based recreation opportunities exhibits the opposite indirect association. Based on these results, communication strategies focusing on the multifaceted benefits of biodiversity preservation and investments in public parks are recommended to improve urban residents’ financial support to park panting initiatives, accessibility to greenspaces, and connections with nature. These are crucial for promoting an eco-surplus culture that enhances biodiversity conservation and human well-being. (shrink)

The rapidly declining biosphere integrity, representing one of the core planetary boundaries, is alarming. One of the most widely accepted measures to halt the rate of biodiversity loss is to maintain and expand protected areas that are effectively managed. However, it requires substantial finance derived from nature-based tourism, specifically visitors from urban areas. Using the Bayesian Mindsponge Framework (BMF) on 535 Vietnamese urban residents, the current study examined how their biodiversity loss perceptions can affect their willingness to pay for (...) the entrance fee and conservation in protected areas. We found that perceived environmental degradation, loss of economic growth, loss of nature-based recreation opportunity, and loss of knowledge as consequences of biodiversity loss has indirect effects on paying willingness through the mediation of the attitude towards conservation. Especially, the perceived knowledge loss also has a direct positive influence on the willingness to pay for the entrance fee and conservation. In contrast, perceived loss of health is negatively associated with the attitude towards conservation. Based on these findings, we suggest that building an eco-surplus culture among urban residents can be a promising way to generate more finance from nature-based tourism for conservation in protected areas and ease the domestic government's and international organizations' funding allocations problems. (shrink)

With Jan Degenaar and Kevin O’Regan’s (D&O) critique of (what they call) ‘autopoietic enactivism’ as point of departure, this article seeks to revisit, refine, and develop phenomenology’s significance for the enactive view. Arguing that D&O’s ‘sensorimotor theory’ fails to do justice to perceptual meaning, the article unfolds by (1) connecting this meaning to the notion of enaction as a meaningful co-definition of perceiver and perceived, (2) recounting phenomenological reasons for conceiving of the perceiving subject as a living body, and (3) (...) showing how the phenomenological perspective does a better job at fulfilling D&O’s requirement for grounding notions of mentality in ‘outer’ criteria than they do. The picture that thus emerges is one of perceptual meaning as an integration of lived, living, and behavioral aspects – a structure of behavior that cannot be captured by appeal to sensorimotor capacities alone but that is adequately illuminated by the enactive notion of adaptive autonomy. (shrink)

This article presents a new approach to studying aesthetics by weaving together a thread of ideas based on investigating the problematics of the philosophy of art from a behavioral paradigm in order to exceed the margins of aesthetics. I claim that it makes no sense to ask if something is art, but rather we should be looking out into the manners in which art subsists, consists, and insists itself. Several notions of what I call behavioral aesthetics are proposed (...) such as observation, aesthetic experience and aesthetic conditioning, behavioral materialism, out-comes, behavioral memory and replication or acquisition, interaction and intra-action, emotional engineering, artificial instincts, aesthetic dissonance, and the problem of measurement. The proposed goal of behavioral aesthetics consists in studying the process of individuation as constitutive of art with the methods of Bernard Stiegler’s general organology and genealogy of the sensible. The article presents a behavioral stance as a borderline mode for approaching the genealogy of aesthetics. I mostly refer to Tania Bruguera’s Behavior Art School and Wright Judson’s Behavioral Art, and the paradigm of new materialism, notably agential realism of Karan Barad. (shrink)

The purpose of this article is to define the methods of counteracting the financing of terrorism, as well as the obligations of public and private entities in this regard. The basis for the considerations will be the analysis of EU normative acts, and the leading research method will be the dogmatic method supported by the historical method.

Although vaccines are considered an efficient public health tool by medical experts, in different countries, people’s confidence in them has been decreasing. COVID-19 has elevated medical scientists’ and practitioners’ social reputation, and it may have reduced global vaccination hesitancy. Still, this alone will not altogether remove the existent frictions that prevent people from complying with vaccination schedules. This paper will review the common causes behind vaccination hesitancy. It will also explore different types of public policy interventions that health experts in (...) governments and institutions employ to fight vaccine hesitancy and non-compliance. The main objective of this article is to argue that, considering the nature of the issue (vaccine hesitancy and its causes), among the various possibilities, policies based on behavioral insights can provide an effective instrument to remove those frictions. Among them, special attention will be devoted to nudges which promise efficiency while avoiding some of the ethical and political costs of other interventions, thanks to their libertarian paternalistic frame. The article concludes by suggesting that public health policymakers should consider the libertarian paternalistic approach of nudges when deploying interventions that aim at changing people’s attitudes and behavior. (shrink)

This paper responds to the Radical Behavioral Challenge to normative business ethics. According to RBC, recent research on bounded ethicality shows that it is psychologically impossible for people to follow the prescriptions of normative business ethics. Thus, said prescriptions run afoul of the principle that nobody has an obligation to do something that they cannot do. I show that the only explicit response to this challenge in the business ethics literature is flawed because it limits normative business ethics to (...) condemning practitioners’ behavior without providing usable suggestions for how to do better. I argue that a more satisfying response is to, first, recognize that most obligations in business are wide-scope which, second, implies that there are multiple ways of fulfilling them. This provides a solid theoretical grounding for the increasingly popular view that we have obligations to erect institutional safeguards when bounded ethicality is likely to interfere with our ability to do what is right. I conclude with examples of such safeguards and some advice on how to use the research findings on bounded ethicality in designing ethical business organizations. (shrink)

Behavioral intervention techniques leveraging reactive responses have gained popularity as tools for promoting ethical behavior. Choice architects, for example, design and present default opt-out options to nudge individuals into accepting preselected choices deemed beneficial to both the decision-maker and society. Such interventions can also employ mild financial incentives or affective triggers including joy, fear, empathy, social pressure, and reputational rewards. We argue, however, that ethical competence is achieved via reflection, and that heavy reliance on reactive behavioral interventions can (...) undermine the development of ethical competence over the long term. Specifically, drawbacks may occur through motivational displacement, dependency, moral crowding out, loss of personal autonomy, and reactance. We introduce complementary cognitive boosting techniques designed to stimulate reflective cognition, as a more promising long-term strategy for instilling ethical behavior. One such approach is the Moral Self-Awareness (MSA) motivational construct, which incrementally leads agents to increasing levels of ethical reflection. We explain why ethical boosting approaches present more edifying and durable alternatives to reactive behavioral interventions and offer suggestions for social and organizational policy. (shrink)

in april 1933, two bright young Ph.D.s were elected to the Harvard Society of Fellows: the psychologist B. F. Skinner and the philosopher/logician W. V. Quine. Both men would become among the most influential scholars of their time; Skinner leads the "Top 100 Most Eminent Psychologists of the 20th Century," whereas philosophers have selected Quine as the most important Anglophone philosopher after the Second World War.1 At the height of their fame, Skinner and Quine became "Edgar Pierce twins"; the latter (...) obtaining the endowed chair at Harvard's department of philosophy, the former taking up the position at Harvard's psychology department.2Besides these biographical parallels, there also... (shrink)

As the world grapples with the urgent need for sustainable development, the transition towards green energy stands as a critical imperative. Financing this transition poses significant challenges, requiring innovative approaches that align financial objectives with environmental sustainability goals. This review presents a conceptual framework for leveraging data-driven techniques in sustainable finance to facilitate the transition towards green energy. The proposed framework integrates principles of sustainable finance with advanced data analytics to enhance decision-making processes across the financial ecosystem. At (...) its core, the framework emphasizes the importance of harnessing vast datasets related to energy production, consumption, environmental impact, and financial performance. By leveraging machine learning algorithms and predictive modeling techniques, financial stakeholders can gain deeper insights into the risks and opportunities associated with green energy investments. Key components of the framework include data collection and aggregation, risk assessment, impact measurement, and investment optimization. Data sources range from traditional financial indicators to environmental metrics, social impact assessments, and geopolitical factors. Through comprehensive data analysis, financial institutions can assess the long-term viability and sustainability of green energy projects, while also evaluating potential social and environmental impacts. Risk assessment methodologies within the framework consider both financial risks, such as market volatility and regulatory uncertainty, and non-financial risks, such as climate change impacts and community resilience. By integrating these factors into risk models, investors can make more informed decisions that mitigate potential losses and maximize returns. Furthermore, impact measurement tools enable stakeholders to quantify the environmental and social benefits of green energy investments. By tracking metrics such as carbon emissions reduction, energy efficiency improvements, and job creation, investors can assess the contribution of their portfolios towards broader sustainability objectives. Finally, the framework incorporates investment optimization strategies that align financial goals with environmental objectives. Through portfolio diversification, asset allocation, and innovative financial instruments such as green bonds and impact investing funds, financial institutions can allocate capital more efficiently towards green energy projects. The conceptual framework presented herein offers a systematic approach to integrating data-driven methodologies into sustainable finance practices. By leveraging advanced analytics and comprehensive datasets, financial stakeholders can drive the transition towards green energy while simultaneously achieving financial returns and positive environmental outcomes. (shrink)

The recently rising field of Critical Data Studies is still facing fundamental questions. Among these is the enigma of digital subjectivation. Who are the subjects of Big Data? A field where this question is particularly pressing is finance. Since the 1990s traders have been steadily integrated into computerized data assemblages, which calls for an ontology that eliminates the distinction between human sovereign subjects and non-human instrumental objects. The latter subjectivize traders in pre-conscious ways, because human consciousness runs too slow (...) to follow the volatility of the market. In response to this conundrum Social Studies of Finance has drawn on Actor-Network Theory to interpret financial markets as technically constructed networks of human and non-human actors. I argue that in order to develop an explicitly critical data study it might be advantageous to refer to Maurizio Lazzarato’s theory of machinic subjugation instead. Although both accounts describe financial digital subjectivation similarly, Lazzarato has the advantage of coupling his description to a clear critique of and resistance to finance. (shrink)

The general area of business and professional ethics is full of vexing and confusing problems. For example, questions concerning the im portance of ethical standards, whether ethics is unnecessary given appropriate legal enforcement, whether it is imperative to teach ethical behavior in professional education, and similar questions are all controversial. The specific ethical problems to be found in the areas of accounting and finance are at least as difficult as those in other areas. However, there is one kind of (...) ethical problem which is unusually prominent in finance and accounting, which deserves to be recognized more widely in ethics as a significant kind of issue. This is the problem of conflicts of interest. (shrink)

This is a collection of the abstracts of lectures given at the International Conference on Differential Equations, Approximations and Applications, which will be held at the old campus of the Vietnam National University at Hanoi December 10-15, 2001.

In his landmark article for this journal, Francis Mechner (2018) presents a novel analysis of the confluence of unique combinations of variables accounting for aesthetic experiences, a phenomenon he calls synergetics. He proposes that artists, musicians, and writers use novel devices to capitalize on those effects. In my response to Mechner's fascinating article, I question the generality of such synergetic experiences to a wide array of audience members. I also question whether the evolutionary basis for aesthetic creativity accounts for the (...) ubiquity of aesthetic activity, as Mechner suggests. I do share Mechner’s emphasis on the importance of culturally nesting aesthetic contributions. But I suggest understanding aesthetic activities across cultures and subcultures requires additional mechanisms serving important bridging functions. I explore dispositional analysis, drawing on both Wittgenstein’s aesthetic language games and derived stimulus relationships. The behavioral functions of aesthetic experiences are those playing roles in cultural contingencies: motivational events, antecedent stimulus events, and consequences of aesthetic activities. Two kinds of aesthetic responses are discussed: 1) aesthetic creative responses by artists, writers or musicians, and 2) responses of audience members to those creations. These resulting aesthetic stimuli may play critical roles in cultural metacontingencies. (shrink)

I (mostly) accept Ancell’s argument that my proposal for dealing with the radical behavioral challenge entails what he calls ‘the excessive recusal problem’. I argue that this is no reason to reject my proposal, but rather an opportunity for further reflection on what behavioral and normative ethicists can learn from each other. I make some suggestions for future lines of inquiry for both fields.

This chapter provides a brief overview of the history of behavioral neurology, dividing it roughly into six eras. In the ancient and classical eras, emphasis is placed on two transitions: firstly, from descriptions of head trauma and attempted neurosurgical treatments to the exploratory dissections during the Hellenistic period and the replacement of cardiocentrism; and secondly, to the more systematic investigations of Galenus and the rise of pneumatic ventricular theory. In the medieval through post-Renaissance eras, the scholastic consolidation of knowledge (...) and the role of compendia are emphasized, along with the use of new methods from within a mechanistic framework. With the discovery of electrical conductance and the rise of experimentalism, we frame the modern era as period of intense debate over localization, decomposition, and other mechanistic principles, and marked by rapid discovery about the brain. The chapter ends with a discussion of the contemporary era, focusing on the establishment of behavioral neurology research on aphasia, apraxia, and neuropsychiatric conditions. (shrink)

Abstract: The concept of debt financing has assumed considerable importance in recent years given the fundamental role debts now play in forming the financial structure of corporate firms. Quite evident in the debt finance literature is the juxtaposition between debt financing and corporate performance which suggests that debt financing can influence corporate performance. Against the narrow measures of debt financing which are common with most studies that have been carried out on the debt finance-performance dynamics; we attempted a (...) more robust combination of debt finance choices in modelling for corporate performance. Based on data gleaned from the audited annual reports of fifteen (15) consumer goods firms listed in the Nigerian Stock Exchange (NSE) for the period 2006 to 2017, results of the panel regression technique revealed that total debt, long-term debt and short-term debt to asset ratios positively influence the performance of consumer goods firms in Nigeria. Based on the findings of the study, we recommend, among others, that there is need for the Nigerian firms to rely less on short-term debts, which forms the major part of their leverage, and focus more on developing internal strategies that can help improve their performance. (shrink)

Should people include beef in their diet? This chapter argues that the answer is “no” by reviewing what is known and not known about the presence in cattle of three psychological traits: pain, desire, and self-consciousness. On the basis of behavioral and neuroanatomical evidence, the chapter argues that cattle are sentient beings who have things they want to do in the proximal future, but they are not self-conscious. The piece rebuts three important objections: that cattle have injury information but (...) not pain; that cattle have goal-directed behavior but not desire; and that the absence of evidence for bovine self-consciousness should not be taken as evidence that cattle lack self-consciousness. In sum, what is known about cattle cognition shifts the moral burden of proof on to the beef eaters. (shrink)

Recent work has shown that knowledge attributions affect how people think others should behave, more so than belief attributions do. This paper reports two experiments providing evidence that knowledge attributions also affect behavioral predictions more strongly than belief attributions do, and knowledge attributions facilitate faster behavioral predictions than belief attributions do. Thus, knowledge attributions play multiple critical roles in social cognition, guiding judgments about how people should and will behave.

This chapter examines two premises of cognitive-behavioral therapy (CBT) - that emotions are caused by beliefs and that those beliefs are represented in the mind as words or images. Being a philosophical examination, the chapter also seeks to demonstrate that these two premises essentially are philosophical premises. The chapter begins with a brief methodological suggestion of how to properly evaluate the theory of CBT. From there it works it way from examining the therapeutic practice of capturing the mental representations (...) that supposedly elicit emotional reactions to examining the assumption that emotions are caused by beliefs. The chapter ends by briefly pointing to some consequences of what has been said to the practice of CBT. (shrink)

Empirical assessments of Cognitive Behavioral Theory and theoretical considerations raise questions about the fundamental theoretical tenet that psychological disturbances are mediated by consciously accessible cognitive structures. This paper considers this situation in light of emotion theory in philosophy. We argue that the “perceptual theory” of emotions, which underlines the parallels between emotions and sensory perceptions, suggests a conception of cognitive mediation that can accommodate the observed empirical anomalies and one that is consistent with the dual-processing models dominant in cognitive (...) psychology. (shrink)

There is a wide range of things we do out of emotion. For example, we smile with pleasure, our voices drop when we are sad, we recoil in shock or jump for joy, we apologize to others out of remorse. It is uncontroversial that some of these behaviors are actions. Clearly, apologizing is an action if anything is. Things seem less clear in the case of other emotional behaviors. Intuitively, the drop in a sad person’s voice is something that happens (...) to her, rather than something she actively performs. Perhaps more interestingly, even jumping for joy can seem a problematic case: although its execution involves the active performance of certain movements, it has been argued to contrast, e.g., with an act of apology, in that it is not performed in order to achieve some end, such as repairing a relationship. This can make this behavior seem considerably different from paradigm actions. Our central concern in this paper is with which emotional behaviors should be classed as actions and why... (shrink)

The objective of this longitudinal study is to analyze the intrinsic drivers and values underlying managers’ organizational citizenship behaviors for the environment from a developmental psychology perspective based on measuring the stages of consciousness that shape the meaning-making systems of individuals. At time 1, the stages of consciousness of 138 managers were qualitatively assessed using the Leader Development Profile test. At time 2, a quantitative survey measured the environmental beliefs and OCBEs of these managers. The links between stages of consciousness, (...) environmental beliefs, and OCBEs were analyzed using hierarchical regressions. The main findings show that managers’ stages of consciousness positively influence two types of OCBEs, namely eco-initiatives and eco-helping, while environmental beliefs influence eco-helping and eco-civic engagement but do not appear to be connected with the stage of consciousness development. This paper first contributes to the literature on corporate greening by shedding more light on the aspects of behavioral and developmental psychology that underlie environmental leadership. Second, it bridges the gap between theories that have developed separately by showing the interconnectedness between the managers’ stage of consciousness and the more concrete environmental behaviors in the workplace that could have emulative effects throughout the organization. (shrink)

Cognitive Behavioral Therapy has become the dominant form of psychotherapy in North America. The CBT model is theoretically based on the idea that all external and internal stimuli are filtered through meaning-making, consciously accessible cognitive schemas. The goal of CBT is to identify dysfunctional or maladaptive thoughts and beliefs, and replace them with more adaptive cognitive interpretations. While CBT is clearly effective as a treatment, there is good reason to be skeptical that its efficacy is due to the causal (...) mechanisms posited by the CBT model. This paper will argue that the specific cognitive schemas posited by the CBT model likely do not play a direct role in the development or treatment of psychological illness. Cognitive schemas, as identified in CBT interventions, are likely to be the result of patient confabulation and epistemically under-supported practitioner-based identification. CBT interventions appear to impose coherence on patients’ psychological states, rather than identifying and modifying preexistent causally efficacious core beliefs. (shrink)

It has been claimed that the intentional stance is necessary to individuate behavioral traits. This thesis, while clearly false, points to two interesting sets of problems concerning biological explanations of behavior: The first is a general in the philosophy of science: the theory-ladenness of observation. The second problem concerns the principles of trait individuation, which is a general problem in philosophy of biology. After discussing some alternatives, I show that one way of individuating the behavioral traits of an (...) organism is by a special use of the concept of biological function, as understood in an enriched causal role (not selected effect) sense. On this view, a behavioral trait is essentially a special kind of regularity, namely a regularity that is produced by some regulatory mechanism. Regulatory mechanisms always require goal states, which can only be provided by functional considerations. As an example from actual (as opposed to folk) science, I examine the case of social behavior in nematodes. I show that the attempt to explain this phenomenon actually transformed it. This supports the view that scientific explanation does not explain an explanandum phenomenon that is given prior to the explanation; rather, the explanandum is changed by the explanation. This means that there could be a plurality of stances that have some heuristic value initially, but which will be abandoned in favor of a functional characterization eventually. (shrink)

Given how much importance there is of economics and finance in our lives as humans (materialist side is foremost as per Marx), it should be given more importance by Philosophy and Sociology. This brief report is meant to highlight few research paradigms available in Philosophy and Sociology to give its proper social context and provide deep underlying of Risk, Insurance and Finance.

In recent years, a growing discussion about how we should design our cities has emerged, particularly for the more controversial modes of design such as “defensive,” “hostile,” or “disciplinary” architecture (i.e., benches on which one cannot sleep, or metal studs on which one cannot skate). Although this debate is relatively mature, many studies have argued that these design notions are undertheorized and are, thus, challenging to study from an empirical and normative perspective. In this paper, I will defne the most (...) common terms used in the literature and show how they are interconnected by utilizing a set of “conditions of adequacy” from philosophy to facilitate a more transparent and well-grounded discussion of them. Terms such as “hostile” and “defensive” design are underlined by several diferent phenomena, not just one as is sometimes commonly assumed. I will also show that these phenomena and their conceptualizations require—and sometimes force us to use—diferent moral reasons when justifying the utilization of diferent designs. (shrink)

BACKGROUND: Little is known about how hospitalized patients share decisions with physicians. METHODS: We conducted an observational study of patient-doctor communication on an inpatient medicine service among 18 hospitalized patients and 9 physicians. A research assistant (RA) approached newly hospitalized patients and their physicians before morning rounds and obtained consent. The RA audio recorded morning rounds, and then separately interviewed both patient and physician. Coding was done using integrated analysis. RESULTS: Most patients were white (61%) and half were female. Most (...) physicians were male (66%) and of Southeast Asian descent (66%). All physicians explained the plan of care to the patients; most believed that their patient understood. However, many patients did not. Physicians rarely asked the patient for their opinion. In all those cases, the decision had been made previously by the doctors. No decisions were made with the patient. Patients sometimes disagreed. CONCLUSIONS: Shared decision-making may not be the norm in hospital care. Although physicians do explain treatment plans, many hospitalized patients do not understand enough to share in decisions. When patients do assert their opinion, it can result in conflict. PRACTICE IMPLICATIONS: Some hospitalized patients are interested in discussing treatment. Improving hospital communication can foster patient autonomy. (shrink)

The problem of supporting scientific and educational institutions is considered. A method of selective financing of scientific and educational institutions that create innovative technologies taking into account their investment in innovative developments is proposed. On the basis of statistical data on the indicators for assessing the activities of scientific and educational institutions and the indicator of the innovative potential of a scientific and educational institution from the production of innovations (PNn), their rating was calculated. The essence of PNn is to (...) compare the indicators of the volumes of income of the special fund Dsfn and the volume of expenditures of the scientific and educational institution Vn. -/- In order to stimulate scientific and educational institutions to create innovative technologies, it was proposed to introduce targeted investments. The problem of quantifying the rate of premium on the basis of an integrated approach in terms of indicators of innovative potential from the production of innovations and the rating of a scientific and educational institution for 2 institutions (namely: K and H) has been solved. Institution K will receive a large increase, and institution N will receive a smaller increase, the value of which will be 56.23 % and 43.76 %, respectively. The results showed the independence of the indicator of the innovative potential of a scientific and educational institution from the production of innovations from the previous rating of a scientific and educational institution, or vice versa. The proposed methodology has been tested by an experimental method, targeted investments have been determined based on an integrated approach in terms of indicators of innovative potential and the rating of a scientific and educational institution. -/- This study is of practical interest to government authorities and grantors when allocating funds according to the vector of selective financing of scientific and educational institutions through targeted investments in the development of innovative technologies, and theoretically – to researchers dealing with issues of financial security, protectionism and public administration. (shrink)

The current study has two objectives: 1. Examine how friends’ safe-driving information affects Chinese drivers’ safe-driving behaviors. 2. Examine how the socio-cultural values affect the relationship between friends’ safe-driving information and Chinese drivers’ driving behaviors.